Church of England's head of investments got £515,000 last year

Tom Joy, director of investments at the Church Commissioners - who manage the Church of England's £8.3 billion finances - took home over half a million pounds himself last year.

In 2016, Mr Joy took home £416,000, in comparison to the Archbishop of Canterbury's £80,160 stipend. In 2017, this increased to £515,000.

The Church Commissioners aim is to invest the church's money ethically and manage the church's assets.

Their annual report said: "The highest paid member of staff was the Director of Investments who earned £264,000 and an LTIP (Long-term incentive payment) of £251,000 based on the long-term performance of the fund. Eight other members of staff received LTIPs in the year totalling £735,000 (2016: £846,000)."

The Church Commissioners decide how to invest the church's returns ethically and last year made 112 queries with companies they invest in about their practises.

The Archbishop of Canterbury said they wanted to invest in a "low-carbon economy" and try to encourage change in the world's largest oil and gas suppliers.

The church achieved returns of 7.1 per cent last year, 2 per cent below their target.

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